BASEL.-Art Basel announced that MCH Swiss Exhibition (Basel) Ltd.  a MCH Group company, and the organizer of Art Basel and Art Basel Miami Beach  has signed a purchase agreement with Asian Art Fairs Ltd, the owners of ART HK  Hong Kong International Art Fair. As of July 1, 2011, MCH Group will take a majority ownership stake in Asian Art Fairs Ltd.

The entry of MCH Group in the Asian art market marks a significant step forward for Art Basel. Since its inception in 2008, ART HK has established itself as the leading art show in Asia. The strong momentum this provides, combined with the great experience and know-how of both organizations, and the expanding art markets throughout Asia, offer great potential for MCH Group to establish a premier art show in this key region, and expand the reach of its art shows globally.

The mid-term goal is to convert ART HK to the Art Basel brand as the third platform for this leading international art show. The 2012 edition will remain under the show's current ART HK name, with Magnus Renfrew remaining as its director, but will take place from February 2 to 5, 2012, moving from the current late-May timing. Further details about the 2012 show and the future editions under the Art Basel brand will be communicated as they are decided.

Art Basel looks forward to engaging even more intensely and continuously with galleries, collectors and institutions on four continents - in Europe at Art Basel, in North America and Latin America at Art Basel Miami Beach, and in Asia with the future Art Basel show sited in Hong Kong.

Art Basel and Art Basel Miami BeachThe world's premier international art show for Modern and contemporary works, Art Basel features nearly 300 leading galleries from North America, Latin America, Europe, Asia and Africa. More than 2,500 artists, ranging from the great masters of Modern art to the latest generation of emerging stars, are represented in the show's multiple sectors. From June 15 to 19, 2011, the 42nd edition of Art Basel takes place featuring the highest-quality paintings, sculptures, drawings, installations, photographs, video and editioned works.

Art Basel Miami Beach will celebrate its 10th anniversary in December 2011. The show made its debut in December 2002 and was quickly named as the most important art show in the Americas. As the sister event of Art Basel, Art Basel Miami Beach combines an international selection of more than 250 leading galleries with an exciting program of special exhibitions and events.

ART HK  Hong Kong International Art FairSince starting in 2008, ART HK has emerged as the leading art fair in Asia, attracting a rich mix of international galleries, collectors, curators and museum directors. Recognized as the gateway between Asia and the West, Hong Kong is unparalleled as a location for a major destination art fair in the region. This years ART HK will take place from May 26 to 29, 2011 and will present 260 galleries from 38 countries, including many influential galleries from all over the world.